Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interests (Tables)

v3.20.2
Non-Controlling Interests (Tables)
9 Months Ended
Sep. 30, 2020
Noncontrolling Interest [Abstract]  
Carrying Amounts and Classification of Assets and Liabilities for VIEs

The following VIEs are consolidated into the Company’s condensed consolidated financial statements and the carrying amounts and classification of assets and liabilities were as follows (in thousands):

HF Logistics (1)

 

September 30, 2020

 

 

December 31, 2019

 

Current assets

 

$

25,924

 

 

$

5,297

 

Non-current assets

 

 

116,700

 

 

 

104,527

 

Total assets

 

$

142,624

 

 

$

109,824

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

14,097

 

 

$

64,600

 

Non-current liabilities

 

 

133,042

 

 

 

1,009

 

Total liabilities

 

$

147,139

 

 

$

65,609

 

 

 

 

 

 

 

 

 

 

Product distribution joint ventures (2)

 

September 30, 2020

 

 

December 31, 2019

 

Current assets

 

$

886,715

 

 

$

747,668

 

Non-current assets

 

 

510,102

 

 

 

325,283

 

Total assets

 

$

1,396,817

 

 

$

1,072,951

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

583,166

 

 

$

430,282

 

Non-current liabilities

 

 

185,434

 

 

 

135,903

 

Total liabilities

 

$

768,600

 

 

$

566,185

 

 

(1)

Includes HF Logistics-SKX, LLC and HF Logistics-SKX, T2, LLC.

(2)

Distribution joint ventures include Skechers Footwear Ltd. (Israel), Skechers China Limited, Skechers Korea Limited, Skechers Southeast Asia Limited, Skechers (Thailand) Limited, and Manhattan SKMX, S. de R.L. de C.V. (Mexico).

Net Earnings Attributable to Non-controlling Interest, Distributions and Contributions

The following is a summary of net earnings attributable to, distributions to and contributions from non-controlling interests (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net earnings attributable to non-controlling interests

 

$

17,832

 

 

$

18,644

 

 

$

22,771

 

 

$

57,723

 

Distributions to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HF Logistics-SKX, LLC

 

 

20,788

 

 

 

870

 

 

 

47,660

 

 

 

2,718

 

Skechers China Limited

 

 

 

 

 

12,600

 

 

 

4,182

 

 

 

32,245

 

Skechers Southeast Asia Limited

 

 

 

 

 

2,027

 

 

 

 

 

 

2,027

 

Skechers Hong Kong Limited

 

 

 

 

 

618

 

 

 

 

 

 

618

 

Contributions from:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HF Logistics-SKX, LLC

 

 

 

 

 

 

 

 

 

 

 

7,565

 

Manhattan SKMX, S. de R.L. de C.V.

 

 

 

 

 

 

 

 

49,045

 

 

 

22,776